June 18, 2018 / 8:24 AM / 5 months ago

S.Africa's Capitec, Nedbank and PIC on shortlist to buy Mercantile Bank

JOHANNESBURG, June 18 (Reuters) - Mercantile Bank Holdings Ltd said on Monday that South Africa’s Capitec Bank, Nedbank Group and a consortium including the state pension fund had been shortlisted among its potential buyers.

Mercantile said in a statement the Public Investment Corporation, Africa’s largest asset manager, is leading a consortium seeking to buy the lender, which is owned by CGD, a Portuguese state-owned banking group.

A total of 18 non-binding offers were received for Mercantile, which specialises in serving entrepreneurs, and the short-listed firms would conduct due diligence on the bank soon, the lender said. (Reporting by Nqobile Dludla Editing by James Macharia)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below